EverCommerce Inc. (NASDAQ:EVCM) Receives Average Rating of “Hold” from Brokerages

Shares of EverCommerce Inc. (NASDAQ:EVCM) have received an average rating of “Hold” from the ten brokerages that are currently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, five have given a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $11.00.

Several research firms have recently issued reports on EVCM. Barclays increased their price objective on shares of EverCommerce from $8.50 to $10.00 and gave the stock an “underweight” rating in a research report on Thursday, August 6th. Royal Bank Of Canada decreased their price target on shares of EverCommerce from $11.00 to $10.00 and set a “sector perform” rating for the company in a research report on Thursday, August 6th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $14.00 price target on shares of EverCommerce in a report on Friday, May 8th. Weiss Ratings cut EverCommerce from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 26th. Finally, Canaccord Genuity Group increased their price objective on shares of EverCommerce from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Monday, May 11th.

Insider Buying and Selling

In other news, Director Eric Richard Remer sold 29,119 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $10.01, for a total value of $291,481.19. Following the completion of the sale, the director directly owned 5,482,246 shares in the company, valued at approximately $54,877,282.46. The trade was a 0.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 473,960 shares of company stock worth $4,905,411. Company insiders own 10.10% of the company’s stock.

Institutional Trading of EverCommerce

A number of institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE bought a new position in shares of EverCommerce in the 2nd quarter worth about $125,000. Prudential Financial Inc. grew its position in shares of EverCommerce by 9.6% during the 2nd quarter. Prudential Financial Inc. now owns 13,546 shares of the company’s stock valued at $142,000 after buying an additional 1,190 shares during the last quarter. Deutsche Bank AG acquired a new stake in EverCommerce during the second quarter worth about $144,000. Oxford Asset Management LLP acquired a new stake in EverCommerce during the second quarter worth about $168,000. Finally, BNP Paribas Financial Markets lifted its holdings in EverCommerce by 863.2% in the third quarter. BNP Paribas Financial Markets now owns 15,325 shares of the company’s stock worth $171,000 after acquiring an additional 13,734 shares during the last quarter. 97.91% of the stock is owned by institutional investors and hedge funds.

EverCommerce Trading Down 4.3%

Shares of EVCM opened at $9.68 on Friday. EverCommerce has a twelve month low of $7.66 and a twelve month high of $14.41. The firm has a market capitalization of $1.71 billion, a P/E ratio of 53.78, a price-to-earnings-growth ratio of 0.99 and a beta of 0.91. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.72. The stock’s fifty day simple moving average is $10.43 and its 200 day simple moving average is $10.76.

EverCommerce (NASDAQ:EVCM) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.10). The firm had revenue of $152.02 million for the quarter, compared to analysts’ expectations of $152.29 million. EverCommerce had a net margin of 5.69% and a return on equity of 3.95%. EverCommerce’s revenue was up 2.7% on a year-over-year basis. During the same period last year, the firm posted $0.04 EPS. On average, equities research analysts forecast that EverCommerce will post 0.52 earnings per share for the current year.

EverCommerce Company Profile

EverCommerce, Inc is a provider of cloud-based software-as-a-service (SaaS) solutions designed for local service businesses. The company delivers an integrated platform that helps organizations manage customer interactions, streamline operations and facilitate recurring revenue. By combining multiple functions into a single interface, EverCommerce aims to simplify back-office processes and enhance the overall customer experience.

The company’s offerings encompass tools for appointment scheduling, payment processing, client relationship management, marketing automation, reputation management and reporting analytics.